China Trade Shows Sluggish Demand While Weaker Yuan Softens Blow
- Exports fell 4.8% in dollar terms, imports drop 8.4%
- Trade numbers look better in yuan terms as depreciation helps
China Trade Shows Sluggish Demand
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China’s exports and imports slipped in dollar terms in June as soft demand at home and abroad continues to weigh on the world’s largest trading nation.
The yuan posted a fifth straight drop last week, the longest losing streak this year, signaling policy makers are more tolerant of further weakening. With tepid global demand and businesses proving reluctant to invest, the government has been stepping up spending to keep its growth target of at least 6.5 percent this year in sight.